Shockwave: the impact of COVID-19

The COVID-19 pandemic transcends traditional boundaries between society and the economy, private and public businesses, and individual countries. Markets, policymakers and communities—all of us—must rapidly adapt to mitigate the impact of this shock.

A wave of change is sweeping over us. Well-established ideas around competition, regulation and finance have been reassessed and, in some cases, dispensed with over just a few weeks. However, the boundaries disrupted by this wave leave space for us to build bridges. There are difficult questions to address, but together we will unravel their complexities and bring the solutions to light.

Although we can’t foresee the ‘new normal’, the wave will recede, and a new landscape, with new opportunities, will surface. We must ride the wave as best we can, and embrace this new world as it emerges.

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The COVID-19 pandemic has had a major impact on businesses across the world. Many have turned to their insurance providers to claim compensation under their business interruption (BI) insurance. However, even if a firm is covered for financial losses caused by the pandemic, determining the compensation amount is far from straightforward. What are the challenges, from an economic and financial perspective, in determining the compensation for these policyholders?

The COVID-19 pandemic has caused large-scale disruptions to the global economy. One consequence is the emergence of commercial disputes following terminations or breaches of contracts during the pandemic. What challenges are likely to arise when quantifying damages in light of COVID-19 in commercial litigation or arbitration proceedings?

What efforts are involved in providing this ‘invisible’ service, and what have the challenges been during the COVID-19 pandemic? Furthermore, could the wastewater service be a key part of efforts to track the path of the virus—and to predict future outbreaks?

Under specific conditions, member states can provide aid in the form of subordinated debt, hybrid capital and equity in line with state aid rules to companies facing difficulties due to the COVID-19 pandemic.

The COVID-19 pandemic has transformed societies across the world, as governments, businesses and individuals respond to the crisis. Customer behaviour has changed both rapidly and radically, as we adapt to the new circumstances and adopt new ways of living and working.

The immediate impact of the COVID-19 pandemic on merger activity is not yet clear. Increased uncertainty caused by the disruption may discourage transactions, although the currently lower market value of stocks may encourage the acquisitions of smaller, innovative start-ups,...

The COVID-19 pandemic has had a severe impact on public health, and significant and far-reaching effects across most sectors of the economy. Given the current global travel restrictions, with most of the world’s population living in countries with some form of travel ban or restriction, aviation has been one of the most dramatically affected sectors. What long-term effects will this have on the sector, and what are the implications for economic regulation?

At a time when confinement—strict, and soon perhaps even stricter—is still the order of the day in most countries, it is certainly premature to start drawing lessons and conclusions from the current coronavirus crisis.

The impact of COVID-19 is unprecedented in modern times. The virus is more virulent than seasonal flu and a vaccine is not yet available. It is putting immense pressure on our health systems. Read more.

On 31 January 2020, the first two cases of COVID-19 were registered in Italy. Over the following weeks, the virus spread throughout all Italian regions, and by the second week of March, Italy was under lockdown.

Instead of blocking a merger, competition authorities across Europe and beyond may ask for commitments to address competition concerns with the concentration. In these cases, writes Oxera Partner Maurice de Valois Turk, the merger approval is conditional on the (implementation of) the commitments, and thus one could argue that the commitments (together with the approval) form a contract between the authority and the notifying firms.

In times of crisis, consumers quickly change their behaviour as they attempt to adapt to unfolding situations. During this rapidly evolving event, we'd like to share our thoughts on what is driving people to change their behaviour and consider how businesses can respond.

COVID-19 update from Oxera

Oxera is committed to protecting the welfare of our colleagues, our clients, and the communities in which we live. Behaving responsibly is at the core of everything we do, and at the core of our relationships; that’s why we’ve taken important measures to protect the people we work with and to help prevent the spread of COVID-19 across Europe. Read more.

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